Pacific Coast Oil Trust (NYSE:ROYT) announced a dividend on Friday, January 26th, Fidelity reports. Stockholders of record on Monday, February 5th will be given a dividend of 0.0164 per share by the oil and gas producer on Tuesday, February 20th. This represents a dividend yield of 0.00612359550561798%. The ex-dividend date of this dividend is Friday, February 2nd.
Pacific Coast Oil Trust has decreased its dividend by an average of 56.8% annually over the last three years. Pacific Coast Oil Trust has a payout ratio of 173.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Pacific Coast Oil Trust to earn $0.28 per share next year, which means the company may not be able to cover its $0.33 annual dividend with an expected future payout ratio of 117.9%.
Shares of Pacific Coast Oil Trust (ROYT) opened at $2.67 on Friday. The company has a market cap of $103.02, a PE ratio of 33.38 and a beta of 2.17. Pacific Coast Oil Trust has a 52-week low of $1.15 and a 52-week high of $2.75.
ROYT has been the topic of several analyst reports. Zacks Investment Research cut shares of Pacific Coast Oil Trust from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Stifel Nicolaus restated a “hold” rating and set a $1.50 price target on shares of Pacific Coast Oil Trust in a report on Sunday, October 1st.
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About Pacific Coast Oil Trust
Pacific Coast Oil Trust is a statutory trust formed by Pacific Coast Energy Company LP (PCEC). The Trust is engaged in acquiring and holding net profits and royalty interests in certain oil and natural gas properties located in California for the benefit of the Trust unitholders. The Underlying Properties consist of producing and non-producing interests in oil units, wells and lands located onshore in California in the Santa Maria Basin, which contains PCEC’s Orcutt properties, and the Los Angeles Basin, which contains PCEC’s West Pico, East Coyote and Sawtelle properties.
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